![]() “Betterment is unlike most investment apps out there today that encourage you to trade, gamble and do foolish things that are fun but shortsighted. “I founded Betterment to help every American have the best tools to make the most of their money,” Stein said. Its website reads, “Make your financial goals real.” Things like this GameStop debacle don’t improve that at all.”īetterment, Stein’s company, is one of the pioneers in the robo-advisor industry. “The reason that we have the stock market is so that companies, people or stores that want to make investments in technology can raise money to do that. “I just don’t think that’s what we want out of our capital markets,” Stein said. While he initially attempted to short the stock at its peak, Stein is happy he avoided the entire situation. “People are suckers for that stuff, myself included.” “It’s like seeing an ad on late-night television or the internet that says, ‘Here’s how you can get rich in five simple steps,’” Stein said. Betterment Founder and CEO Jonathan Stein ‘97 heard about the situation much like other Americans did - through its booming media coverage. The massive 1500 percent increase in the value of the stock shocked the nation and struck a crushing blow to Wall Street. They had never before seen growth of this magnitude in the history of the market. Right in front of them, GameStop stock value went up, and up, and up and up - and they could do little to stop it. Behind this enormous surge? A vigilante investment group on Reddit. In late January, GameStop stock value suddenly skyrocked, dealing crushing blows to hedge fund corporations and yielding massive gains to investors. ![]() And standardized tests Taking on Wall Street
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